Review of Metal Market 2019 03 14 - 03 20
Good news: the prices of precious metals are rising. In recent weeks, the value of almost all precious metals has fallen slightly (except for palladium), but in the near future it can be expected that this will not be the case – the economic markets are recovering slowly, which also has a positive impact on the value of these metals (source: Gbm.scotiabank.com).
Gold currently costs $1306.4 an ounce. According to Scotiabank.com, gold is now in a safe price position before the upcoming rise in metal values. Bloomberg.com analysts share the brave idea: “Sell Stocks, Buy Gold”, so it can be said, that currently it is a very favourable time to invest in the yellow metal. It is expected that 2019 will be a good period for ETFs, which work with gold (source: Etftrends.com). What gold price is predicted this year? According to Scrapregister.com, the metal will cost around $1375 an ounce in the last quarter of the year.
The value of silver has also risen – currently it costs $15.38 an ounce. This metal probably had the most difficult times to raise its value, but many analysts believe, that this year will be particularly beneficial for silver (source: Gbm.scotiabank.com). In India, which is one of the world's largest economies, the demand for white metal has increased dramatically (source: Bloomberg.com). Analysts agree that under favourable conditions, silver price should rise to $16.5 an ounce by the end of the year (sources: Kitco.com, Etfdailynews.com).
